Monday, November 5, 2007
A weekly round up of house price stats
Home economics - the property market
Will we follow America?The economics do not look supportive of buying houses as investments currently."The storm clouds are gathering, the forecasters are slashing their house-price predictions and talk of crashes and negative equity is back"
Posted by peter @ 10:19 AM (586 views)
3 thoughts on “A weekly round up of house price stats”
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techieman says:
the “great housing crash of 1990” – i think his use of great is ill-conceived on any definition. It wasnt “great [fantastic]” for people in it and it wasnt that “great [Big]”. The sensible correction of the early 1990s, is what history might show us. We might well have a proper crash now!
confused76 says:
“But the bank stopped raising rates, homebuyers breathed a collective sigh of relief, mortgage approvals picked up strongly and by August 2005, when the bank announced a one-off quarter-point rate cut, they were back above 100,000. From the summer of 2004 to the early autumn of 2005, house prices stagnated, but did not fall. By the end of 2005, confidence had returned and prices had embarked on a renewed climb.”
David Smith forgets to mention that the average house price was at 5x salary in August 2005 and it is now at 6x
Also BoE base rate is 1.25% higher… a mere 28% higher than 2 years ago… and…
actual spread between mortgage and base rate has increased substantially
Is DS in denial? is he protecting VIs?…. I have a better theory: he is protecting his career. He has gambled any credibility he has left on UK averting a house price crash.
David, no worries, you can always write in glossy EA brochures if they kick you out of the Times. Quality of news about the same
Orwell says:
Interesting comment to someone commenting on the times Article at the bottom:
“…Here in NZ it has taken a base rate of 8.25% to finally quell the appetite for housing….”
Other than the words speculative before housing, this pretty much sums it up. Does Swervyn Mervyn cut or not or heavens forbid does he raise…